At a virtual event held by the Council for Economic Education, the president of the Federal Reserve Bank of Cleveland, Loretta Mesterexplained that he believes that the US unemployment rate will probably go up a bit, but he said “we have to focus singularly on inflation”.
“If we want to get back to healthy conditions, this is something we have to do.”
Featured Comments
I don’t think we can count on a huge increase in workforce participation.
We have to focus exclusively on inflation.
Lowering inflation is the first task.
I see more persistence in inflation and I see rates rising more than average than Fed officials are saying.
We have to work harder to get inflation on the 2% path.
I have not seen any evidence that the markets are not working in the United States.
The fact that the Fed raises rates will not stop the central bank from continuing with its “first job” of fighting inflation.
Next year there will be no rate cut.
The Fed will use its tools to reach the inflation target, it does not need fiscal policy to tighten to achieve it.
Source: Fx Street
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